by Mike ‘Mish’ Shedlock
President Obama was hoping to get two trade agreements in the waning days of his administration.
However, this week the German Economy Minister stated the US-EU TTIP talks were “de facto dead”. The US-Asia TPP talks have been dead as a doornob for some time.
Both deals were allegedly about free trade. In fact, neither was.
Nonetheless, that both deals died after years of negotiation is systematic of a bigger problem: rising protectionism everywhere, led by the US and EU.